Genel Energy PLC: Results of AGM

Genel Energy PLC (GENL) Genel Energy PLC: Results of AGM 09-May-2024 / 13:00 GMT/BST 9 May 2024 Genel Energy plc Results of Annual General Meeting 9 May 2024 The Annual General Meeting of Genel Energy plc was held today, Thursday, 9 May 2024 and the results of the votes by shareholders are set out below. The number of ordinary shares of £0.10p each in the Company in issue at the date of the meeting was 279,402,863 and each share attracted one vote. The results were as follows: Resolutions For % Against % Withheld Total lodged To receive the audited financial statements of the Company for the year ended 31 December 2023 195,330,706 100.00% 0 0.00% 784,044 195,330,706 To approve the Remuneration Policy for Directors 142,845,544 73.13% 52,477,876 26.87% 791,330 195,323,420 To approve the Annual Report on Remuneration for the year ended 31 December 2023 145,795,416 74.64% 49,530,304 25.36% 789,030 195,325,720 To re-elect Mr David McManus as a Non‑Executive Director 145,833,170 74.66% 49,487,313 25.34% 794,267 195,320,483 To re-elect Mr Paul Weir as an Executive Director 194,947,599 99.81% 378,384 0.19% 788,767 195,325,983 To re-elect Mr Ümit Tolga Bilgin as a Non-Executive Director 144,641,492 66.80% 71,899,074 33.20% 788,766 216,540,566 To re-elect Ms Canan Ediboglu as Non-Executive Director 194,870,128 89.99% 21,670,437 10.01% 788,767 216,540,565 To re-elect Mr Yetik K. Mert as a Non-Executive Director 194,870,008 99.77% 455,974 0.23% 788,768 195,325,982 To appoint BDO LLP as the Company’s auditor 195,244,728 99.96% 82,950 0.04% 787,072 195,327,678 To authorise the Directors to set the Auditor’s fees 195,186,671 99.93% 142,869 0.07% 785,210 195,329,540 To give the Company limited authority to make political donations and expenditure 195,176,574 99.92% 161,132 0.08% 777,044 195,337,706 To authorise the Company to purchase its Ordinary Shares 146,134,451 67.48% 70,424,338 32.52% 770,543 216,558,789 To permit the Company to hold general meetings, other than an AGM, on not less than 14 clear days’ notice 195,202,351 90.14% 21,348,438 9.86% 778,543 216,550,789 Following the retirement of Sir Michael Fallon at today’s AGM, the Company’s search for a new Independent Non-Executive Director is ongoing. Canan Ediboglu has been appointed Interim Senior Independent Non-Executive Director. The Board of Directors notes that, although resolutions 2, 3, 4, 6, and 12 were passed with the requisite majorities, over 20% of votes were cast against. The Board will take note of the voting and will engage with shareholders to further understand the reasons for the significant vote against these resolutions. It is noted that, while ISS recommended voting in favour of all resolutions, Glass Lewis recommended voting against resolution 2 on the Directors’ Remuneration Policy, due to their judgement that the Remuneration Committee retains “the discretion to grant potentially excessive awards to executives on recruitment.” Genel is an international business with operations in challenging overseas jurisdictions, competing against a wide range of global listed and private companies for senior talent. The flexibility the Company has in relation to recruitment packages has been in place since 2014, and the  Company has not exercised this flexibility since such date. The Board of Directors continues to believe that this flexibility is reasonable and in the best interests of our shareholders, but will discuss this further with major shareholders. The full text of the resolutions may be found in the Notice of the Annual General Meeting, copies of which are available on both the Company's website www.genelenergy.com and on the National Storage Mechanism https://data.fca.org.uk/#/nsm/nationalstoragemechanism. A copy of the special resolutions (resolutions 12 and 13) passed at the Annual General Meeting, have been submitted to the National Storage Mechanism and will shortly be available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism. -ends- For further information, please contact: Genel Energy Andrew Benbow, Head of Communications [phone] Vigo Consulting Patrick d’Ancona [phone] Notes to editors: Genel Energy is a socially responsible oil producer listed on the main market of the London Stock Exchange (LSE: GENL, LEI: 549300IVCJDWC3LR8F94). Genel has low-cost and low-carbon production from the Kurdistan Region of Iraq, and continues to seek opportunities to add new resilient and cash-generative assets to its portfolio. For further information, please refer to www.genelenergy.com. Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.

ISIN:	JE00B55Q3P39, NO0010894330
Category Code:	RAG
TIDM:	GENL
LEI Code:	549300IVCJDWC3LR8F94
Sequence No.:	320611
EQS News ID:	1899805

End of Announcement	EQS News Service